CRS Reports & Analysis
Resources for Key Economic Indicators
Updated November 9, 2018 (R43295)
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Jennifer Teefy, Senior Research Librarian (jteefy@crs.loc.gov, 7-7625)
Julie Jennings, Senior Research Librarian (jjennings@crs.loc.gov, 7-5896)
Related Authors
Jennifer Teefy
Julie Jennings
Contents
Statistics and Data
National Economic Accounts
Household Income
Inflation
Labor Force Characteristics
Value of the Dollar
Related Resources
General Sources and Historical Information
Economic Indicator Release Dates
Federal Finance
Money, Credit, and Markets
Production and Business Activity
FAQs
What Is an Economic Indicator?
Which Indicator Is Best for a Big Picture View of the Performance of the Overall Economy?
When Are Data Released, and By Whom?
What Is a Recession?
Links to Glossaries
Related CRS Products
Summary
An understanding of economic indicators and their significance is seen as essential to the formulation of economic
policies. These indicators, or statistics, provide snapshots of an economy's health as well as starting points for economic
analysis. This report contains a list of selected authoritative U.S. government sources of economic indicators, such as
gross domestic product (GDP), income, inflation, and labor force (including employment and unemployment) statistics.
Additional content includes related resources, frequently asked questions (FAQs), and links to external glossaries.
Statistics and Data
National Economic Accounts
The Bureau of Economic Analysis (BEA), which is an agency within the U.S. Department of Commerce, tracks major
economic indicators, most notably gross domestic product (GDP). Other BEA indicators include items such as personal
income and outlays, and corporate profits. These indicators together comprise what are known as BEA's "National
Economic Accounts," or "National Income and Product Accounts" (NIPA).
Gross Domestic Product
Gross Domestic Product is a comprehensive measure of U.S. economic output. It measures the value of the goods and
services produced by the U.S. economy in a given time period and includes
total spending by consumers
total investment by businesses
total spending by government
net exports (exports minus imports)
Current GDP News Release
Historical and Detailed NIPA Interactive Tables
A Primer on GDP and the National Income and Product Accounts
Personal Income and Outlays
Personal income is a measure of income received by individuals from wages, salaries, dividends, interest, and other
forms. Personal outlays consist of personal consumption of goods and services and also include transfer payments. The
components include
disposable income (total personal income minus personal current taxes)
transfer receipts (payments by governments and businesses to individuals and nonprofit institutions serving
individuals)
consumption expenditures (goods and services purchased by persons)
savings
Current Personal Income and Outlays News Release
Historical and Detailed NIPA Interactive Tables
Household Income
The Census Bureau reports on household income data that are collected from several major surveys and programs.
Guidance on the differences between these sources of income data can be found on the bureau's website. Two of these
data sources are described below.
The Census Bureau's annual American Community Survey (ACS) collects income data from a sample of the U.S.
population, including median household data, data on income distribution, and the poverty rate. Data can cover one or
five years.1 One-year estimates are more current but use a smaller sample size. Five-year estimates are less current but
use larger sample sizes and are considered more reliable. The following are examples of commonly requested ACS data:
U.S. Median Income in the Past 12 Months from the 2017 ACS 1-Year Estimates
U.S. Income Distribution for Households and Families in the Past 12 Months from the 2017 ACS 1-Year
Estimates
Another program, the Current Population Survey (CPS), is a survey conducted by the Census for Bureau of Labor
Statistics (BLS) and provides estimates on income, poverty, and health insurance coverage.
Inflation
Inflation is the overall increase in the prices of goods and services in the economy. A frequently cited measure of
inflation is the Consumer Price Index (CPI), which is a BLS program that tracks changes in the prices paid by urban
consumers for a representative basket of goods and services. The information provided by BLS goes beyond just CPI
and includes producer prices, import/export prices, and employment cost trends.
Overview of BLS Statistics on Inflation and Prices
Consumer Price Index
The Consumer Price Index program produces monthly data on changes in the prices paid by urban consumers for a
representative basket of goods and services.
Current CPI News Release
Current CPI Tables (from the current news release)
Historical CPI for All Urban Consumers (CPI-U)
CPI Databases
Producer Price Indexes
The Producer Price Indexes (PPIs) measure the average change over time in the selling prices received by domestic
producers for their output.
Current PPI News Release
Current PPI Tables (from the current news release)
Historical and Detailed Tables
Import/Export Prices Indexes
The International Price Program (IPP) produces Import/Export Price Indexes (MXP), which contain data on changes in
the prices of nonmilitary goods and services traded between the United States and the rest of the world.
Current MXP Release
Current MXP Tables (from the current news release)
Historical and Detailed Tables
Employment Cost Trends
Employment Cost Trends (ECT) produce quarterly indexes measuring change over time in labor costs and quarterly
data measuring level of average costs per hour worked.
Current ECT News Release
Current ECT Tables (from the current news release)
Historical and Detailed Tables
Labor Force Characteristics
Few economic indicators are as closely watched as measures of employment. In its monthly news release, BLS provides
national totals of the number of employed and unemployed. This release includes the results from both a household
survey and a business establishment survey.2 These data are presented as both seasonally and not seasonally adjusted.
Current Monthly News Release—Employment Situation
Employment Statistics Tables (from the current news release)
Historical Labor Force Data (household survey)
Historical Establishment-Based Data
BLS also provides tables showing different characteristics of employed and unemployed persons, and persons not in the
labor force. These statistics are available on a monthly, quarterly, or annual basis. Historical data are also available.
Labor Force Statistics Tables—Survey of Households
Labor Force Statistics Tables—Survey of Business Establishments
Labor Productivity and Costs
Labor productivity relates output to the labor hours used in the production of that output. Two BLS programs produce
labor productivity and costs (LPC) measures for sectors of the U.S. economy.
Current News Release—Productivity and Costs
LPC Tables
Value of the Dollar
The value of a U.S. dollar relative to foreign currencies is determined in foreign exchange markets, and its value affects
prices and economic activity in the United States.
The Federal Reserve provides a brief overview on how the foreign exchange value of the dollar relates to Federal
Reserve policy.
Foreign Exchange Values
Measures the exchange rate of the U.S. dollar versus various currencies and indices.
Current Release
Historical Releases
Interest Rates
A collection of interest rates provided by the Federal Reserve, current to today's market.
Daily Rates
Weekly, Monthly and Historical Rates (from the Data Download Program)
Related Resources
General Sources and Historical Information
Federal Reserve
Summary of Commentary on Current Economic Conditions by Federal Reserve District (The Beige Book)
Economic Data Releases
Federal Reserve Bank of St. Louis "FRED" Economic Data
Bureau of Economic Analysis
U.S. Economy at a Glance
Current Releases
Bureau of Labor Statistics
U.S. Economy at a Glance
Databases, Tables, and Calculators by Subject
Census Bureau
Current Economic Indicator Releases
Council of Economic Advisers (via the Federal Reserve Bank of St. Louis)
Economic Indicators Since 1948
Economic Indicator Release Dates
Bureau of Economic Analysis
Data Release Dates
Bureau of Labor Statistics
Schedules of News Releases
Census Bureau
Economic Indicator Release Schedule
Federal Reserve Bank of New York
Economic Indicators Calendar
Federal Finance
Office of Management and Budget
Federal Receipts and Outlays (yearly)
U.S. Treasury
Federal Debt (monthly)
Money, Credit, and Markets
Federal Reserve
Money Stock Measures (weekly)
Consumer Credit (current release)
Interest rates (daily)
Production and Business Activity
Census Bureau
New Residential Construction (monthly)
Advance Monthly Retail Trade Report (monthly)
Wholesale Trade: Sales and Inventories (monthly)
FAQs
What Is an Economic Indicator?
A statistic that, combined with others, shows the relative health of the economy.
Which Indicator Is Best for a Big Picture View of the Performance of the Overall Economy?
Real gross domestic product (GDP). Other important indicators include reports on personal income and employment.
When Are Data Released, and By Whom?
Several agencies release data, including the Bureau of Economic Analysis, the Bureau of Labor Statistics, the Bureau of
the Census, and the Office of Management and Budget. The frequencies with which data are released vary by agency
and type of economic indicator. See "Economic Indicator Release Dates" (in "Related Resources") for details.
A change in the trend of the economy (from expansion to recession, for example) is often announced only after several
months of data are released.
What Is a Recession?
A recession is a significant decline in economic activity spread across the economy, lasting more than a few months,
normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. A recession
begins just after the economy reaches a peak of activity and ends as the economy reaches its trough. Between trough and
peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief and they
have been rare in recent decades. Recessions are dated by the National Bureau of Economic Research (NBER), a private
research institute.3
A popular definition of a recession is two consecutive quarters of negative GDP growth, but recessions are not officially
defined by the NBER using this definition.
Additional Information from NBER:
U.S. Business Cycle Expansions and Contraction (Recessions)
Most recent recession (December 2007-June 2009)
Links to Glossaries
Federal Reserve Bank of St. Louis—Glossary
Federal Reserve Bank of San Francisco—Glossary of Economic Terms
The Economist—Economic Terms A-Z
Oxford Reference—A Dictionary of Economics
Related CRS Products
CRS In Focus IF10408, Introduction to U.S. Economy: GDP and Economic Growth, by Jeffrey M. Stupak and
Mark P. Keightley
CRS In Focus IF10477, Introduction to U.S. Economy: Inflation, by Jeffrey M. Stupak
CRS In Focus IF10557, Introduction to U.S. Economy: Productivity, by Jeffrey M. Stupak
CRS In Focus IF10411, Introduction to U.S. Economy: The Business Cycle and Growth, by Jeffrey M. Stupak,
CRS In Focus IF10443, Introduction to U.S. Economy: Unemployment, by Jeffrey M. Stupak
CRS In Focus IF10501, Introduction to U.S. Economy: Personal Income, by Jeffrey M. Stupak
CRS In Focus IF10963, Introduction to U.S. Economy: Personal Saving, by Jeffrey M. Stupak
CRS In Focus IF10569, U.S. Economy in a Global Context, by Jane G. Gravelle
CRS Report R44543, Slow Growth in the Current U.S. Economic Expansion, by Mark P. Keightley, Marc
Labonte, and Jeffrey M. Stupak
CRS Report R44705, The U.S. Income Distribution: Trends and Issues, by Sarah A. Donovan, Marc Labonte, and
Joseph Dalaker
CRS Report RL30344, Inflation: Causes, Costs, and Current Status, by Marc Labonte
CRS Report RL30354, Monetary Policy and the Federal Reserve: Current Policy and Conditions, by Marc
Labonte
Author Contact Information
Jennifer Teefy, Senior Research Librarian (jteefy@crs.loc.gov, 7-7625)
Julie Jennings, Senior Research Librarian (jjennings@crs.loc.gov, 7-5896)
Footnotes
1. American Community Survey (ACS) three-year estimates have been discontinued. ACS's 2005-2007, 2006-2008,
2007-2009, 2008-2010, 2009-2011, 2010-2012, and 2011-2013 estimates will remain available to data users, but no
new three-year estimates will be produced. Every community in the nation will continue to receive a detailed
statistical portrait of its social, economic, housing, and demographic characteristics through one-year and five-year
ACS products, https://www.census.gov/programs-surveys/acs/guidance/estimates.html.
2. For more information on these surveys, see the FAQ, "Why are there two monthly measures of employment?" on
the BLS website at http://www.bls.gov/news.release/empsit.faq.htm.
3. For more information, see NBER's memo on its recession dating procedure at
http://www.nber.org/cycles/jan2003.html.